LONDON, United Kingdom (18 March 2024) – Arcus Infrastructure Partners (“Arcus”) is delighted to announce the final closing of its third fund, Arcus European Infrastructure Fund 3 SCSp (“AEIF3” or the “Fund”) at c. €1.61bn, exceeding its target size of €1.5bn.
We are extremely grateful to all our investors for supporting this fundraise and for the continued trust in our ability to source, acquire, and manage European mid-market infrastructure assets.
AEIF3 has already made majority investments in four European mid-market infrastructure assets: Workdry, a water pump and wastewater treatment asset leasing business operating in the UK and the Netherlands; Officium, an energy efficiency business in Germany; Portus, a European data centre platform with current operations in Luxembourg, Hamburg and Munich; and Coolworld, a pan-European temperature-controlled asset leasing business.
All four businesses are underpinned by strong fundamentals, diverse end customers, inflation linkage, and strong long-term growth potential. The total invested to date across the four businesses is c. €680m, or c. 40% of committed capital.
The fundraising attracted commitments from high profile and sophisticated institutional investors in Europe, the UK, North America, the Middle East, and Asia, including a significant number of investors that have invested with Arcus since its inception.
The first investment by AEIF3 was completed in September 2022, with the acquisition of Workdry International Ltd (“Workdry”), a market-leading lessor of water pump and wastewater treatment assets in the UK and the Netherlands. In December 2022, Arcus announced the second and third investments of AEIF3: SDC SpaceNet DataCenter (“SDC”), the first transaction for Portus Data Centers (“Portus”), Arcus’ DACH data centre strategy, and Officium Holding GmbH (“Officium”), an energy efficiency company, providing long-term leasing of submetering equipment in Germany.
As part of the Portus data centre aggregation strategy, in January 2023, Arcus announced the acquisition of EDH (in Luxembourg) and, in June 2023, announced the acquisition of IPHH (in Hamburg, Germany). In August 2023, AEIF3 acquired its fourth asset, Coolworld Investment B.V. (“Coolworld”), a leading European pureplay rental specialist of industrial temperature control equipment headquartered in the Netherlands, leasing mission-critical assets for a range of industrial and commercial applications.
Ian Harding, Managing Partner, said: “The closing of AEIF3 above target, and 30% above our last fund size, is testament to not only the hard work of the Arcus team, but the strength and consistency of the Arcus strategy. We’re very grateful to our investors for taking the time to understand our vision, and our patient and disciplined approach to investing in and managing infrastructure assets. The four assets currently in the portfolio are a demonstration of Arcus’ ability to bilaterally source sustainable businesses with strong infrastructure characteristics and long-term growth potential, and I look forward to further building up a robust and diversified portfolio following the success in this fundraise.”
Stephan Grillmaier, Head of Investor Relations, added: “I am very proud to have reached this fundraising milestone for AEIF3 and believe that we have a strong partnership with the investors who are supporting us. The global network of investors is aligned with both the Arcus strategy and its focus on sustainability, which enables us to not only make further acquisitions, but also execute on key growth and value-creating initiatives. We thank our investors once again for partnering with us and are proud of what we have achieved with this fundraising.”
Founded in 2009, Arcus currently manages 16 assets with an aggregate equity value in excess of €7.6bn (as of 31 December 2023) through funds and separate managed accounts.
Arcus’s previous fund, Arcus European Infrastructure Fund 2 SCSp (“AEIF2”) closed at €1.22bn in 2020 and currently manages eight infrastructure assets, with a ninth, E-fiber having been realised in 2022. Its first fund, Arcus European Infrastructure Fund 1 (“AEIF1”) was fully realised in 2020 and contained six infrastructure assets.
Campbell Lutyens acted as fundraising placement agent for Arcus. Clifford Chance acted as the legal and regulatory counsel. PwC acted as the tax adviser for the fundraising.
Arcus media contacts:
Harriet Saywell-Lee
E: harriet.saywell-lee@arcusip.com
T: +44 7442 154256
About Arcus
Arcus Infrastructure Partners is an independent fund manager focused solely on long-term investments in European infrastructure. Arcus invests on behalf of institutional investors through discretionary funds and specialist co-investment vehicles and, through its subsidiaries, currently manages investments with an aggregate enterprise value of c. €22bn (as of 31 December 2023). Arcus targets mid-market, value-add infrastructure investments, with a particular focus on businesses in the digital, transport, logistics & industrials, and energy sectors. Further information on Arcus Infrastructure Partners can be found on www.arcusip.com.
